Sumitomo Mitsui Trust Group Inc. Has $17.39 Million Stock Holdings in The Toro Company (NYSE:TTC)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of The Toro Company (NYSE:TTC) by 5.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 200,456 shares of the company’s stock after acquiring an additional 9,998 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Toro were worth $17,386,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Toro by 0.7% during the first quarter. Vanguard Group Inc. now owns 10,565,128 shares of the company’s stock worth $968,083,000 after purchasing an additional 73,719 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Toro by 25.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,653,109 shares of the company’s stock valued at $609,626,000 after buying an additional 1,332,248 shares in the last quarter. Select Equity Group L.P. lifted its holdings in shares of Toro by 1.6% during the 2nd quarter. Select Equity Group L.P. now owns 5,519,407 shares of the company’s stock worth $516,120,000 after acquiring an additional 88,536 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Toro by 1.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,766,046 shares of the company’s stock worth $445,673,000 after acquiring an additional 65,800 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Toro by 13.9% in the second quarter. Dimensional Fund Advisors LP now owns 901,346 shares of the company’s stock valued at $84,279,000 after acquiring an additional 110,330 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Northland Securities reaffirmed a “market perform” rating and issued a $100.00 target price on shares of Toro in a report on Friday, September 6th. DA Davidson decreased their target price on Toro from $103.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. StockNews.com raised shares of Toro from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, Robert W. Baird decreased their price target on shares of Toro from $102.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Toro has an average rating of “Hold” and an average target price of $93.33.

Toro Price Performance

Toro stock opened at $80.96 on Monday. The company has a market capitalization of $8.31 billion, a PE ratio of 21.25 and a beta of 0.69. The company has a current ratio of 1.94, a quick ratio of 0.85 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $83.87 and a two-hundred day moving average price of $88.13. The Toro Company has a 12 month low of $77.15 and a 12 month high of $102.00.

Toro (NYSE:TTC) last posted its earnings results on Thursday, September 5th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). Toro had a return on equity of 25.94% and a net margin of 8.89%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts expect that The Toro Company will post 4.16 EPS for the current year.

Toro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Monday, September 30th. Toro’s dividend payout ratio is currently 37.80%.

Toro Profile

The Toro Company designs, manufactures, markets, and sells professional turf maintenance equipment and services. It operates through two segments: Professional and Residential. The Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment, such as horizontal directional drills, walk and ride trenchers, stand-on skid steers, vacuum excavators, stump grinders, turf renovation products, asset locators, pipe rehabilitation solutions, materials handling equipment, and other after-market tools; and snow and ice management equipment, such as snowplows, as well as stand-on snow and ice removal equipment, such as snowplow, snow brush, and snow thrower attachments, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.